2 days ago I filed my taxes and as a result immediately paid from my bank account an underpayment penalty of nearly 2400 dollars. However in my haste to get my return done I failed to claim a dependent that will surely flip the script on this return. My return has been excepted but not processed. What do I do now?
Before starting to amend the tax return, wait for the tax refund to be received or the taxes due to be paid and processed by the IRS.
See this TurboTax support FAQ for amending a current year tax return - https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/amend-federal-tax-return-current-year/L7eS6o1qh_US_en_US?uid=lfunevhk
My return has been accepted but not processed...I obviously will not owe the 2400 dollars I have already sent can I begin amendment now?
Hi DoninGa...my return has been accepted but not processed...I already paid 2400 dollars from my bank account which I will most likely get most if not all back...can I begin my amendment now or do I have to wait for the complete process and then try to get my money back?
@Raydzm26 It would be best to wait for the IRS to complete processing your return and the payment before you start to amend your tax return. You want to make sure that the IRS does not make any changes to your return before you amend.